BSG Final Exam Review Rated 100%
Correct Latest Update 2023
A company's strategy - Answer Represents managerial commitment to undertake
one set of actions rather than another in an effort to compete successfully and
achieve good performance outcomes
Which of the following questions helps distinguish a winning strategy from a
mediocre or losing strategy - Answer Is the strategy helping the company achieve a
sustainable competitive advantage and is it resulting in goo company performance?
In crafting a company's strategy - Answer Managers need to come up with some
distinctive "aha" quality that goes beyond merely attracting buyer attention but that,
more importantly, delivers what buyers perceive as superior value and converts them
in to loyal customers
A company's strategy is a "work in progress" and evolves over time because of -
Answer The need to react and respond to changing market and competitive
conditions and ongoing management efforts to improve this or that piece of the
strategy
It is normal for a company's strategy to end up being - Answer A blend of proactive
actions to improve the company's competitiveness and financial performance and
as-needed reactions to unanticipated developments and fresh market conditions
The two crucial elements of a company's business model are - Answer It's profit
proposition or "profit formula" and its customer value proposition
Which of the following is not a frequently used strategic approach to setting a
company apart from rivals, delivering superior value, achieving competitive
advantage, and converting buyers into loyal customers? - Answer Striving to be
more profitable than rivals and aiming for a competitive edge based on bigger profit
margins
A company's strategy can be considered "ethical" - Answer If it does not entail
actions or behaviors that cross the moral line from "should or can do" to "should not
do"
Which of the following is not something to look for in identifying a company's
strategy? - Answer Actions to boost the compay's credit rating and stock price
The difference between a company's strategy and a company's business model is
that - Answer Strategy relates broadly to a company's competitive moves and
business approaches (which may or may not lead to profitability) while its business
model relates to whether the company can execute its customer value proposition
profitably
There are many routes to competitive advantage, but they all involve - Answer
Providing buyers with what they perceive as superior value compared to the
offerings of rival sellers
, BSG Final Exam Review Rated 100%
Correct Latest Update 2023
Which of the following statements about a company's strategy is false? - Answer
Well-crafted company strategies rarely need to be changed unless one or more
important rival firms launch unexpected strategic initiatives that endanger the
company's strategy long-term profitability
The customer value proposition portion of a company's business model concerns -
Answer The company's approach to satisfying buyer needs and requirements at a
price they will consider a good value
How well a company performs and the degree of market success it achieves are
directly attributable to - Answer The caliber of its strategy and the proficiency with
which the strategy is executed
In endeavoring to craft a strategy that is ethical, company mangers - Answer Have to
consider not only whether all the various strategy elements are within the bounds of
what is legal; and in compliance with prevailing governmental rules and regulations
but also whether all the various elements of the company's strategy can pass the test
of moral scrutiny
Developing a strategic vision for a company entails - Answer Prescribing a strategic
direction for the company to pursue in developing and strengthening its business —
a strategic vision lays out the ocmpany's strategic course in preparing for the future
Which one of the following questions is not something company managers should
consider in thinking strategically about their company's directional path and
developing a strategic vision? - Answer What business approaches and operating
practices should we consider in trying to implement and execute our business
model?
Which of the following is the best example of a well-stated strategic objective? -
Answer Within 2 years, achieve costs per unit sold that are 10% below the current
industry average of $4.25 per unit
Business strategy, as distinct from corporate strategy, concerns - Answer The
actions and approaches being employed to produce successful performance in one
specific line of business
Which one of the following statements about the characteristics of well-stated
objectives is false? - Answer Well-stated objectives should contain sufficient wiggle
room to allow for the occurrence of unexpected circumstance that block achievement
of the objective
Functional area srategies - Answer Concern the actions, approaches, and practices
to be employed in managing particular functions or business processes or key
activities within a business
In a single-business company, the strategy making hierarchy consists of - Answer
Business strategy, functional area strategies, and operating strategies
Correct Latest Update 2023
A company's strategy - Answer Represents managerial commitment to undertake
one set of actions rather than another in an effort to compete successfully and
achieve good performance outcomes
Which of the following questions helps distinguish a winning strategy from a
mediocre or losing strategy - Answer Is the strategy helping the company achieve a
sustainable competitive advantage and is it resulting in goo company performance?
In crafting a company's strategy - Answer Managers need to come up with some
distinctive "aha" quality that goes beyond merely attracting buyer attention but that,
more importantly, delivers what buyers perceive as superior value and converts them
in to loyal customers
A company's strategy is a "work in progress" and evolves over time because of -
Answer The need to react and respond to changing market and competitive
conditions and ongoing management efforts to improve this or that piece of the
strategy
It is normal for a company's strategy to end up being - Answer A blend of proactive
actions to improve the company's competitiveness and financial performance and
as-needed reactions to unanticipated developments and fresh market conditions
The two crucial elements of a company's business model are - Answer It's profit
proposition or "profit formula" and its customer value proposition
Which of the following is not a frequently used strategic approach to setting a
company apart from rivals, delivering superior value, achieving competitive
advantage, and converting buyers into loyal customers? - Answer Striving to be
more profitable than rivals and aiming for a competitive edge based on bigger profit
margins
A company's strategy can be considered "ethical" - Answer If it does not entail
actions or behaviors that cross the moral line from "should or can do" to "should not
do"
Which of the following is not something to look for in identifying a company's
strategy? - Answer Actions to boost the compay's credit rating and stock price
The difference between a company's strategy and a company's business model is
that - Answer Strategy relates broadly to a company's competitive moves and
business approaches (which may or may not lead to profitability) while its business
model relates to whether the company can execute its customer value proposition
profitably
There are many routes to competitive advantage, but they all involve - Answer
Providing buyers with what they perceive as superior value compared to the
offerings of rival sellers
, BSG Final Exam Review Rated 100%
Correct Latest Update 2023
Which of the following statements about a company's strategy is false? - Answer
Well-crafted company strategies rarely need to be changed unless one or more
important rival firms launch unexpected strategic initiatives that endanger the
company's strategy long-term profitability
The customer value proposition portion of a company's business model concerns -
Answer The company's approach to satisfying buyer needs and requirements at a
price they will consider a good value
How well a company performs and the degree of market success it achieves are
directly attributable to - Answer The caliber of its strategy and the proficiency with
which the strategy is executed
In endeavoring to craft a strategy that is ethical, company mangers - Answer Have to
consider not only whether all the various strategy elements are within the bounds of
what is legal; and in compliance with prevailing governmental rules and regulations
but also whether all the various elements of the company's strategy can pass the test
of moral scrutiny
Developing a strategic vision for a company entails - Answer Prescribing a strategic
direction for the company to pursue in developing and strengthening its business —
a strategic vision lays out the ocmpany's strategic course in preparing for the future
Which one of the following questions is not something company managers should
consider in thinking strategically about their company's directional path and
developing a strategic vision? - Answer What business approaches and operating
practices should we consider in trying to implement and execute our business
model?
Which of the following is the best example of a well-stated strategic objective? -
Answer Within 2 years, achieve costs per unit sold that are 10% below the current
industry average of $4.25 per unit
Business strategy, as distinct from corporate strategy, concerns - Answer The
actions and approaches being employed to produce successful performance in one
specific line of business
Which one of the following statements about the characteristics of well-stated
objectives is false? - Answer Well-stated objectives should contain sufficient wiggle
room to allow for the occurrence of unexpected circumstance that block achievement
of the objective
Functional area srategies - Answer Concern the actions, approaches, and practices
to be employed in managing particular functions or business processes or key
activities within a business
In a single-business company, the strategy making hierarchy consists of - Answer
Business strategy, functional area strategies, and operating strategies
